Five-year-old data analytics and marketing communications start-up Vero has closed its first funding round, banking $4 million from one of Australia's leading technology venture capital firms, Square Peg Capital.

The Sydney-based company provides a platform that lets different business departments, such as engineering, production and marketing, share data and collaborate on customer emails. It means users can automate and personalise emails in real time.

Co-founder and chief executive Chris Hexton, who left PwC to start the company, said it had so far grown organically to generate multimillion dollars of revenue from about 250 customers in the US, Australia and Europe, but that it had needed to raise capital in order to keep growing.

"We're in a lucky position to have really good data, a good sense of unit economics and of who our customers are, and we're in a really good place with where the product is at. But it's been my job to look at opportunities for growth and it became clear to me there were opportunities if we had access to capital," he said.

Vero provides a platform that lets different business departments share data and collaborate on customer emails.

"The industry moves fast and to make the best use of the product we have, we had to raise capital."

Mr Hexton said that, while the company was founded to help businesses send out email messages to its customers that "made more sense and added more value", he also wanted to extend the business beyond email marketing.

"The product we have now focuses solely on email marketing as the action or the output of the data ... Typically in a software business there will be multiple points where you can use automation, such as around customer sign-up," he said.

"We think there are more opportunities to help companies use the data that's not just in emails, but we need to talk to our customers more to find out what they need."

Square Peg has backed a range of companies, from successful US ride-sharing company Uber to fintech start-ups Vend and Prospa and transaction marketing company ROKT.

Square Peg partner Tushar Roy told The Australian Financial Review Vero perfectly illustrated the type of company the fund likes to invest in.

"It has high-integrity founders with a grand vision who are using technology to solve a massive problem that affects people globally," he said.

"It's also not just a tool for marketers. They work with data scientists and product teams to design solutions for customers at digital touch points."

For now Vero's headquarters is in Sydney, but with the bulk of its business coming from overseas, it is open to moving.

"I think we'll stay headquartered here, but we've always followed our nose in terms of where the talent is, so if there is more talent in the US we'd be open to that. We also think it's important to have a global 24/7 presence," Mr Hexton said.